Florida Senate - 2009                              CS for SB 744
       
       
       
       By the Committee on Finance and Tax; and Senators Altman and
       Storms
       
       
       
       593-04406-09                                           2009744c1
    1                        A bill to be entitled                      
    2         An act relating to homestead assessments; amending s.
    3         193.155, F.S.; revising criteria under which transfer
    4         of homestead property is not considered a change of
    5         ownership; providing construction; providing an
    6         effective date.
    7  
    8  Be It Enacted by the Legislature of the State of Florida:
    9  
   10         Section 1. Subsection (3) of section 193.155, Florida
   11  Statutes, is amended to read:
   12         193.155 Homestead assessments.—Homestead property shall be
   13  assessed at just value as of January 1, 1994. Property receiving
   14  the homestead exemption after January 1, 1994, shall be assessed
   15  at just value as of January 1 of the year in which the property
   16  receives the exemption unless the provisions of subsection (8)
   17  apply.
   18         (3)(a) Except as provided in this subsection or subsection
   19  (8), property assessed under this section shall be assessed at
   20  just value as of January 1 of the year following a change of
   21  ownership. Thereafter, the annual changes in the assessed value
   22  of the property are subject to the limitations in subsections
   23  (1) and (2). For the purpose of this section, a change of
   24  ownership means any sale, foreclosure, or transfer of legal
   25  title or beneficial title in equity to any person, except as
   26  provided in this subsection. There is no change of ownership if:
   27         1.(a) Subsequent to the change or transfer, the same person
   28  is entitled to the homestead exemption as was previously
   29  entitled and:
   30         a.1. The transfer of title is to correct an error;
   31         b.2. The transfer is between legal and equitable title or
   32  equitable and equitable title and no additional person applies
   33  for a homestead exemption on the property; or
   34         c.3. The change or transfer is by means of an instrument in
   35  which the owner is listed as both grantor and grantee of the
   36  real property and one or more other individuals are additionally
   37  named as grantee. However, if any individual who is additionally
   38  named as a grantee applies for a homestead exemption on the
   39  property, the application shall be considered a change of
   40  ownership;
   41         2.(b) Legal or equitable title is changed or transferred
   42  The transfer is between husband and wife, including a change or
   43  transfer to a surviving spouse or a transfer due to a
   44  dissolution of marriage;
   45         3.(c) The transfer occurs by operation of law to the
   46  surviving spouse or minor child or minor children under s.
   47  732.401 s.732.4015; or
   48         4.(d) Upon the death of the owner, the transfer is between
   49  the owner and another who is a permanent resident and is legally
   50  or naturally dependent upon the owner.
   51         (b) For purposes of this subsection, a leasehold interest
   52  that qualifies for the homestead exemption under s. 196.031 or
   53  s. 196.041 shall be treated as an equitable interest in the
   54  property.
   55         Section 2. This act shall take effect July 1, 2009.